The updated forbearance statement provides great clarity on the implication of the forbearance as regards compliance by firms with other rules and regulations, including the Consumer Duty and communicating to consumers. The...more
Businesses relying on exemptions for high net worth individuals and self-certified sophisticated investors should ensure they are prepared to comply with the updated requirements. On 7 November 2023, HM Treasury...more
Hailed as a landmark piece of legislation and a once in a generation reform to the UK financial services sector, the new Financial Services and Markets Act 2022-2023 which received Royal Assent on 29 June 2023 aims to bolster...more
The U.K. Financial Conduct Authority has published a consultation paper on proposed guidance on the regulatory perimeter for multilateral trading facilities and on possible future changes to smaller trading venues' regulatory...more
HM Treasury and HM Revenue and Customs (HMRC) are consulting on proposed changes to the U.K.’s existing approach to sovereign immunity from U.K. direct taxation. The proposed changes would be a major step change in the...more
The U.K.’s policy approach to regulating secondary markets and investment firms, now that the U.K. has left the EU, has been confirmed by the government. Last year, HM Treasury conducted its Wholesale Markets Review proposing...more
Striking a balance between investor protection and market development - The U.K. is assessing its financial promotion framework, and changes are being made or proposed to amend the laws and rules. Financial promotions are...more
BROKER-DEALER - SEC Small Business Capital Formation Advisory Committee to Discuss Opportunities for Underrepresented Founders and Investors - On April 26, the Securities and Exchange Commission announced that its Small...more